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According to a recent survey by the American Bankers Association, most bank customers — 65 percent — spend $3 or less in monthly fees for banking services such as checking account maintenance and ATM access—less than the cost of a gallon of gas. The majority of Americans — 55 percent — continue to pay nothing at all.

“Today’s savvy consumers are avoiding many bank fees by taking steps like maintaining a minimum balance and only using ATMs owned by their bank,” said Nessa Feddis, ABA’s senior vice president and deputy chief counsel for Consumer Protection and Payments. “These results prove that most customers responsibly manage their accounts, allowing them free access to a service that ensures their money is safe and available day and night.”

As banking customers become more knowledgeable about fees and deposit requirements, many are choosing banking products and services that offer bundled packages that are not subject to fees. Financial institutions should keep this in mind when reviewing product strategy and availability, so they can assess how best to attract and retain customers and members.